Vietnam, India pledge to step up trade, defense ties

Vietnam’s Prime Minister Nguyen Tan Dung and his Indian counterpart Narendra Modi have affirmed their commitment to step up the bilateral strategic partnership between the two countries.

Vietnam’s Prime Minister Nguyen Tan Dung and his Indian counterpart Narendra Modi have affirmed their commitment to step up the bilateral strategic partnership between the two countries.

The agreement was made at their talks in New Delhi on October 28, part of the three-day visit of the Vietnamese government leader to India starting on Monday, the VnExpress Agency reported.

During their meeting, the two leaders discussed measures to foster the two countries’ cooperation in politics, economy, defense, security, culture, education, science and technology.

The host and guest highly valued the rapid development of the bilateral economic ties, and pledged that the two sides will strive to increase two-way trade to US$15 billion by 2020.

They also emphasized the need to strengthen cooperation through State and Parliament channels, regularly organize meetings of existing cooperative mechanisms such as inter-governmental committee, strategic dialogue, political consultation and defense dialogue.

PM Dung pledged to create favorable conditions for the two countries’ businesses to strengthen economic, trade and investment ties in fields that both hold advantages such as oil and gas, energy, infrastructure construction, information technology, agricultural product processing and pharmaceuticals.

The Indian PM Narendra Modi said India will grant a credit package of US$100 million for Vietnam to buy patrol ships from India.

He also pledged that India will help Vietnam modernize its defense and security forces, organize joint military exercises, and boost cooperation in defense industries.

Regards economic ties, the Indian leader said he will encourage Indian companies to invest in Vietnam and help the country diversify material resources for industries, particularly the garment and textile sector.

He suggested Vietnamese businesses take advantage of India’s economic development programs like “Make in India” in order to boost mutually beneficial collaboration.

Both sides agreed to continue promoting cooperation in defense and security as well as in science-technology, culture and education.

They added that with the launch of a direct air route next month, the two countries will initially set up their aviation link.

The two PMs also agreed to continue their close coordination at such regional and international forums as ASEAN-India cooperation, East Asia Summit, ASEAN Regional Forum and Regional Comprehensive Economic Partnership, and within the framework of the United Nations.

PM Dung told his host that Vietnam supports India’s efforts to become a member of the UN Security Council when this mechanism expands in the future.

As regards the East Sea issue, the Indian PM said legitimate rights and interests of nations in the sea must be guaranteed and all disputes must be solved by peaceful means on the basis of international law, especially the UN Convention on the Law of the Sea (UNCLOS), and the full and serious implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) towards the early conclusion of a Code of Conduct (COC) in the East Sea.

PM Dung said he appreciates India’s stance on the East Sea issue and the country’s commitment to further cooperating with Vietnam in oil and gas exploration and exploitation in its exclusive economic zone and continental shelf in the sea.

Following their talks, the two PMs witnessed the signing of several cooperation agreements on culture, education, broadcasting, oil and gas, and relic conservation.

The two sides also issued a joint statement showing their commitments to boost the comprehensive development of the strategic partnership relations between Vietnam and India.